Pre-Market Snapshot - Dec 14,2022





US stocks turned volatile post inflation print that showed an increase on just 0.10% to 7.10%  against expectations on 0.30% rise, but stocks gave up large part of gains towards the mid day. Dow closed 0.30% higher giving up gains of 2.80% at one time during the day, Nasdaq also closed 1.01% higher from almost 3.50% gains intra day and S&P closed 0.73% higher again lost large part of intraday gains.


Both USD index and 10 year came off sharply post inflation print, $ Index fell below 104 and 10 year traded below 3.50% on lower than expected inflation print. Cboe vix too declined below 23. 


Crude futures continued to gain some more ground, WTI traded above 75, Brent above 80. 


Indian stocks moved higher on Tuesday as banking names continued to lead higher and IT stocks recovered some lost ground. Nifty closed above 18600 and Sensex added 400 points to Monday's close. 


Markets may continue to consolidate with some upward bias ahead of FED meet outcome and impending breakout. Participants may continue to watch out for stock specific trade opportunity and signs of major breakout in indices to put additional money to work. Historically end of calendar days are marked by NAV propping year-end moves on low volumes and it seems  this year may not may widely different.

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